Ascott Reit’s Q3 unitholders’ distribution increases 32%

Ascott Residence Trust (Ascott Reit) achieved a unitholders’ distribution of S$15.86 million for the third quarter of 2008.

This is a 32 per cent increase compared to the same period in 2007.

In a statement, Ascott says distribution per unit (DPU) for the quarter ended September 30, 2008, is 2.61 cents, a 31 per cent year-on-year increase.

Ascott Reit posted strong operating performance for the third quarter with an increase in revenue of S$10.7 million, of which 66 per cent is attributed to organic growth across the portfolio.

Contributions from newly acquired properties made up the remaining 34 per cent.

Source : Channel NewsAsia – 22 Oct 2008

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